The Chitosan Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Chitosan Global Market Report 2024, The chitosan market size has grown exponentially in recent years. It will grow from $7.24 billion in 2023 to $8.7 billion in 2024 at a compound annual growth rate (CAGR) of 20.2%. The growth in the historic period can be attributed to seafood processing waste, biomedical applications, increased use in agricultural sector, food and beverage industry, paper and pulp industry, metal ion chelation.
The chitosan market size is expected to see exponential growth in the next few years. It will grow to $18.61 billion in 2028 at a compound annual growth rate (CAGR) of 20.9%. The growth in the forecast period can be attributed to bioplastics development, nutraceuticals and dietary supplements, environmental concerns, agricultural biostimulants, functional food ingredients, regulatory support. Major trends in the forecast period include water filtration technologies, chitosan derivatives and modifications, chitosan nanoparticles in drug delivery, chitosan in biomedical scaffolds, chitosan in tissue engineering.
The increase in requirements for wastewater treatment across the globe is expected to propel the growth of the chitosan market. Wastewater treatment has been defined as the process of removing impurities from wastewater before it reaches natural bodies or aquifers such as oceans, lakes, and rivers. Chitosan is widely used for wastewater treatment as it helps in heavy metal or metalloid adsorption, the removal of dyes from industrial wastewater, and the removal of other organic pollutants such as organic oxidants, oil impurities, and organochloride pesticides. For instance, in 2021, according to a study conducted by the Utrecht University, a Netherlands-based public research university, and the United Nations University, a Japan-based research and study university, the wastewater produced globally each year stands at 359 billion cubic meters, of which approximately 48 percent of that water is released untreated into the environment. Therefore, the growth in requirements for wastewater treatment across the globe is driving the chitosan market growth.
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The chitosan market covered in this report is segmented –
1) Chitosan Market By Grade: Pharmaceutical Grade, Industrial Grade, Food Grade
2) Chitosan Market By Source: Shrimp, Squid, Crab, Krill, Other Sources
3) Chitosan Market By Application: Water Treatment, Food and Beverages, Cosmetics, Medical and Pharmaceuticals, Agrochemicals, Other Applications
Top Major Players
Advanced Biopolymers AS
FMC Corporation
Kyowa Hakko Bio Co. Ltd.
Dainichiseika Color & Chemicals Mfg. Co. Ltd.
IFF NovaMatrix
Major companies operating in the chitosan market are focused on adopting strategic partnerships to gain a competitive edge in the market. These collaborations aim to combine expertise and technology to create innovative chitosan-based products with diverse industrial applications. For instance, in November 2022, Novochizol SA, a Switzerland-based clinical-stage life science company, partnered with Alpha Chitin, a biotechnology company. With this partnership, Novochizol SA produces innovative, high-quality chitosans with a unique chitosan processing technology and yields materials with new properties for applications in various industries, such as pharmaceuticals, cosmetics, and agriculture.
The chitosan market report table of contents includes:
1. Executive Summary
2. Chitosan Market Characteristics
3. Chitosan Market Trends And Strategies
4. Chitosan Market – Macro Economic Scenario
5. Global Chitosan Market Size and Growth
….
32. Global Chitosan Market Competitive Benchmarking
33. Global Chitosan Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Chitosan Market
35. Chitosan Market Future Outlook and Potential Analysis
36. Appendix
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